"Westpac is in really good shape apart from some sustained damage on the regulatory side" -- new Westpac chairman John McFarlane upbeat in face of money laundering scandal

Source: supplied by Westpac

Westpac has named veteran banker John McFarlane as its next chairman as it confronts the fallout from a massive money laundering scandal revealed last November. 

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Mr McFarlane is a former chief executive of the ANZ Bank and was chairman of British bank Barclays until May last year. 

Here's my analysis from The World Today